JERSEY - Virtual CRS/FATCA Training Session on Tuesday 8 June 2021
01/07/2021
Officials from Revenue Jersey’s AEOI team provided guidance on how FIs and third party reporters can improve the quality of their reporting.
- The slides and QA sheet are attached
The Training key feature are shown below and also here https://www.jerseyfinance.je/events/revenue-jersey-virtual-training-session/
Purpose of training
- Revenue Jersey has identified a number of common themes which can lead to Financial Institutions not complying with their obligations under the CRS and FATCA reporting rules.
- At the same time, there are similarities in the way in which FIs which most successfully demonstrate compliance organise their approach to CRS/FATCA.
Speakers:
- Niamh Moylan: Assistant Comptroller of Revenue – International
- Niamh trained as a tax adviser with a Big 4 firm in Jersey before moving into Government in 2010. She has led Revenue Jersey’s International Tax operations division since 2015.
- Paul Meaker: Deputy Director – International (AEOI)
- Paul has been leading Jersey’s AEOI team since September 2020. Prior to this he worked as a Director in Public Groups and International for the Australian Taxation Office and the financial services industry prior to that.
Objectives - This sessions objectives were :
- Help Financial Institutions and third party reporters understand some common issues affecting the quality of CRS/FATCA data reported to Revenue Jersey
- Discuss internal controls to improve data quality and reduce follow-up questions from clients and Revenue Jersey
- Explain the process by which Revenue Jersey undertakes CRS/FATCA compliance reviews
- Set out some common themes seen in institutions which implement CRS/FATCA most effectively
For more information, please contact Niamh Moylan at n.moylan2@gov.je
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.